Kabi Fuyal Resigns from Sun Nepal Life, Set to Join Himalayan Life
Kabi Fuyal has resigned as Senior Deputy Chief Executive Officer of Sun Nepal Life. He is likely to be appointed as the Chief Executive Officer of Himalayan Life Insurance, where Kapil Dahal is currently suspended.
Kathmandu. Kabi Fuyal has resigned from the position of Senior Deputy Chief Executive Officer of Sun Nepal Life Insurance. According to reliable sources, he resigned from the post effective Friday.
After leaving IME Life Insurance, Fuyal stayed away from the profession for nearly six months before joining Sun Nepal Life in Falgun 2081. He had resigned from IME Life immediately after completing his first term and joined Sun Nepal Life as Senior Deputy Chief Executive Officer.
Fuyal, who was appointed for a first four-year term at IME Life on Bhadra 7, 2077, was decided by the board of directors on Shrawan 14, 2081 to be appointed for an additional four-year term.
In the seven years since IME Life began commercial operations, Fuyal is the only Chief Executive Officer to have not only completed a full four-year term but also successfully renewed his contract for a second term. His predecessors, Rakesh Pokharel and Shreechandra Bhatta, both failed to complete a full term as Chief Executive Officer. After Bhatta's resignation, Fuyal resigned from the position of Market Head at Citizen Life Insurance Company and took the helm of IME Life on Bhadra 4, 2077.
Meanwhile, Kapil Dahal, Chief Executive Officer of Himalayan Life Insurance, was suspended after a criminal case was filed against him on Jestha 28. Although the company called for applications for the appointment of a new Chief Executive, the appointment process has been stalled after a writ petition was filed in the Supreme Court against it.